Standby Letter of Credit
A letter of credit which a bank issues on behalf of its customer to serve as a guarantee to the beneficiary of the letter of credit that the bank's customer will perform a specified contract with the beneficiary.
Standby Letter of Credit:
A letter of credit which is usually issued as a guarantee against the non-fulfilment of a contract.
standby letter of credit
An obligation issued by a bank on behalf of a bank customer to a third party.
Standby letter of credit
Agreement to guarantee invoice payments to a supplier; a standby LOC promises to pay the seller if the buyer fails to pay.
Standstill agreement ...
Standby Letter of Credit
Documents evidencing failure of the bank's customer (the applicant) to pay an obligation when due.
Standby Letter of Credit: A letter of credit that provides for payment to a beneficiary when that beneficiary provides certification that certain obligations have not been fulfilled.
Standby Letter of Credit
A standby letter of credit (SBLC) is a letter of credit that functions as a financial guarantee.
For instance, the firm may have a standby letter of credit at a bank that enables it to borrow money as needed to meet near-term obligations. or, some companies are in great shape even though they have negative working capital.
Third party enhancements take the form of a standby letter of credit or commercial letter of credit issued by a bank, a surety bond from an insurance company, or a special reserve fund managed by a financial guarantee firm.
Amount paid to an underwriter who agrees to purchase any stock that is not purchased by public investors in a rights offering.
Standby letter of credit ...
 See also: Letter of credit, Banks, Saving, Expense, Spot market
  
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